The deal, which has boosted Alquity’s assets under management and administration (AUMA) to over US$640m (£526.9m,€603.8m), will mean advisers can continue to access existing funds on the platform and fund managers Driehaus Capital Management, atomos/WTW (formerly Willis Towers Watson) and Foresight, alongside Alquity’s ESG and impact vehicles.

The first addition to the platform will be Alquity’s Indian Subcontinent fund.

VAM Funds’ platform is currently used by 400 international IFAs.

The companies will remain as separate brands and operate independently as back office functions are built over time.

Paul Robinson founder and executive chairman of Alquity, said: “This strategic acquisition creates a fast growing, high-quality international investment management platform that offers the best of the best investment access for advisers alongside award-winning service.

“This deal creates a new scaled company enabling us to accelerate our fund growth, attract more institutional investments, and broaden the quality offering to clients.

“As well as expanding VAM Funds’ successful international multi-asset IFA business, over time we will also offer Alquity’s high-quality ESG and impact funds, tapping into the increasing demand for sustainable investment products.”

Theo Iaponas has been named as chief executive of the life and pension provider.

Iaponas has held several management positions at Swiss Life since 2009, most recently at Swiss Life International as chief executive of global employee benefits in Luxembourg.

He will succeed Nils Frowein who, after 15 years at the Swiss Life Group, has decided to leave the group.

LGT Private Banking

Anke Bridge Haux has been named as chief executive of LGT Bank (Switzerland), effective from 1 November 2023.

Over the past 12 years, she has held various management positions in the Swiss unit of Credit Suisse. In 2022, as head of personal and business banking, she assumed responsibility for consumer banking and corporate clients, including the online banking app CSX.

In this role – subject to the approval of the supervisory authority – she will succeed Heinrich Henckel, who will be elected to the board of directors of LGT Bank Switzerland.

Henckel will continue to serve on the board of LGT Wealth Management UK.

Investec W&I

Barbara-Ann King has left her role as chief executive of Investec Wealth and Investment, having been promoted to the position only eight months ago.

King’s appointment as chief executive of the business was announced towards the end of July 2022, and she took up the role from managing director Ciaran Whelan on 1 October.

In a statement, Investec confirmed that King has also stepped down from the board, and that she will be on garden leave until her departure from the company on 13 August.

Acting chief executive Iain Hooley will continue in the role, while Whelan will also continue as managing director.

Vam Funds

The investment firm has hired Steve Thompson as business development director.

Thompson was previously at global advice group GSB, where he was a partner and financial planner.

Julius Baer

The private bank has named James Taylor and Mehdi Abhah as senior relationship managers.

It has also hired Anders Wennerholm as a relationship manager.

The trio will support business growth for Middle East & Africa out of Geneva.

Taylor joins from Barclays Private Bank in Geneva, where he was enior elationship manager handling client relationships across the Middle East and Africa region.

Abhah joins from Credit Suisse, where he was senior relationship manager for the Middle East desk in Geneva. Wennerholm joined from Barclays Private Bank in Geneva, where he was relationship manager for the Middle East desk.

Credit Suisse

The banking group has appointed Andy Kuo as director for greater China and the Singapore market.

Prior joining Credit Suisse, Kuo was with UBS in Taipei, where he advised onshore Taiwanese ultra-high net worth clients and their families on wealth.

RBC Wealth Management

The wealth manager has bolstered its operation in Asia with the addition of several hires.

Tan Yuh Harn joined RBC Wealth Management in January as managing director, head of discretionary portfolio management and Ultra-high net worth (UHNW) solutions, Asia.

Based in Singapore, he was senior portfolio manager, investment management Apac at Credit Suisse Wealth Management.

Alvis Chan has joined RBC as executive director, portfolio manager, UHNW Solutions, based in Hong Kong.

Before RBC, Chan worked as head of Hong Kong fixed income at UBS Global Wealth Management.

Also, RBC Wealth Management has appointed Ajay Saratchandran as head of funds, global manager research – Asia, based in Singapore.

Saratchandran was most recently senior portfolio manager and head of sub-advised securities mandates for the global discretionary portfolio management programme at Standard Chartered Bank.

Lastly, Gautam Chadda re-joined RBC as head of portfolio specialists in Singapore.

Previously, he was at Standard Chartered Private Bank, where he was a senior investment adviser.

Ruffer

Charlotte Mackay has joined the firm as senior investment associate in its private client division.

Mackay was previously an investment manager at London Wealth Management.

Saffery Champness

The accountancy group has boosted its private client team with the hire of James Stevens as partner.

He joins Saffery Champness from Deloitte, where he headed up the private client team in the eastern region.

Artemis

The investment manager has recruited Sacha El Khoury as head of impact equities.

She joins from Columbia Threadneedle Investment, where she launched the CT Sustainable Global Equity Income Strategy in May 2021 and remained lead manager until her recent resignation.

The Luxembourg-headquartered group has hired Chris Allen as group chief executive, effective from 1 July 2022.

Allen was previously head of global private banking at HSBC.

He will replace Jakob Stott, who has decided to step down and will leave the firm following a brief transition.

Vam Funds

The investment manager has hired Brendan Dolan as sales director, according to the firm’s Linkedin page.

Dolan was previously at Quilter International, where he was global sales director.

Fairstone

The UK financial planning group has hired Peter Donaldson and Tean Hatt as group divisional directors.

Donaldson has spent the last 17 years at HSBC in retail and commercial financial planning positions and leading roles in wealth strategic transformation. He takes up the role of group divisional director of north and Scotland.

Hatt has over 25 years’ industry experience in financial services, which includes 15 years at Hargreaves Lansdown. He will be group divisional director for Midlands and east.

Carrick Wealth

The South African advice firm has hired appointed Twape Mtila as regional manager of its Malawi office.

He was recently business development officer at Old Mutual Investment Group Malawi.

IQ-EQ

The financial services provider has named Briony Sun as Chinese family office executive, based in Jersey.

She will support Chinese-speaking private clients living in or planning to relocate to the UK, particularly London, and those looking to establish a Jersey trust.

Navigation Wealth Management

The Yorkshire-based financial advice firm has appointed Paul Scott as client relationship manager.

Scott was mostly recently part of the premier relationship team at Barclays Bank.

First Sentier Investors (FSI)

The global investment manager has named Ray Cullivan as head of FSI Ireland.

Cullivan replaces Adrian Hilderly, who is retiring later this month.

He joins from Gam, where he was most recently head of Gam in Ireland.

Endowus

The Singapore digital wealth manager has appointed Sean Wong as its head of investments, and Min Axthelm as its director of research.

Wong joins from Morgan Stanley Private Wealth Management Asia.

Axthelm joins from Morgan Stanley in New York, where she was lead analyst with its wealth management global investment office, overseeing the due diligence process from inception to completion for US equity strategies and mutual funds.

J O Hambro Capital Management (JOHCM)

The active asset manager has named Nikolaos Dimakis as a senior data scientist.

He joins from Federated Hermes, where he was a quantitative analyst.

The firm wants to establish and build a “permanent distribution capability in the UAE”, a country which it says has increasing demand for high quality, sophisticated investment funds and products.

Vam will allow financial advisers, intermediaries and institutions in the region to access the range.

The following 11 funds have been registered in the UAE:

• VAM US Micro Cap Growth Fund;
• VAM US Small Cap Growth Fund;
• VAM US Mid Cap Growth Fund;
• VAM US Large Cap Growth Fund;
• VAM World Growth Fund;
• VAM Emerging Markets Growth Fund;
• VAM International Opportunities Fund;
• VAM Driehaus Fund;
• VAM Cautious Fund;
• VAM Balanced Fund;
• VAM Growth Fund.

Reinforce global presence

Brendan Adams, managing director at Vam Global Management Company, said: “We are delighted with this new step in our group development as we have been present in the region for almost a decade now.

“We are also delighted to have received the approval from the SCA to offer our range of funds in the UAE’s growing market.

“Vam has been in the industry for nearly two decades and, by establishing a strong presence in the UAE market, it is clearly reinforcing its global presence.

“We are finding that well-regulated international funds, such as those we provide through our Luxembourg Ucits V range, are increasingly in demand and being sought by advisers and investors.”

The announcement follows news from the Ucits Luxembourg fund management group, VAM Funds in February that it was moving its Discretionary Fund Management (DFM) business from Close Brothers Asset Management.

The new strategic partnership will see the three VAM products managed by Sanlam UK’s direct discretionary funds team.

VAM’s discretionary funds will also pivot from a fund of funds model to a directly invested approach, due to a volatile market dynamic and a spike in investor appetite which should offer some saving in fees charges to clients.

Penny Lovell, chief executive of Sanlam UK’s Private Office: “Investors and regulators alike are increasingly focused on cost and transparency.

“We’ve seen a growing international DFM demand from high net worth clients and the partnership with VAM, coupled with our strong investment pedigree and expertise, will help to ensure that demand is fulfilled.

“VAM is a leading fund management company with strong investment credentials and an established presence in the international community.

“Like us, VAM place great emphasis on putting clients first and we look forward to developing a successful partnership over the coming years.”

Details of funds

The funds, which have combined assets of $175m (£135m, €156m), were launched in 2011 as a response to rising demand for direct discretionary fund management services from VAM’s international clients.

Each of the three VAM discretionary funds is designed to suit a specific investor preference and risk profile.

The funds provide investors with a diversified multi-asset portfolio for those seeking growth, income or capital preservation.

Brendan Adams, managing director of VAM Global Management, said: “Financial intermediaries based internationally are increasingly noticing they need to form partnerships with established fund managers to further help them deliver investment excellence.

“Investors in our discretionary funds will benefit from Sanlam’s significant expertise, industry-leading performance and reduced overall fees.

“This partnership with Sanlam UK is an ideal fit for our international investors, their investment goals, and their regulatory demands.”